Bank Of The West

SAN FRANCISCO, CA 94104-4297

LEI: QOT5WN9RBKQTFRVKEV31

Tax ID: 94-0475440

2019 Data | 2018 Data


Overview

Bank Of The West is a small mortgage company specializing in Home Purchase and Refi loans. Bank Of The West has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Los Angeles, Oakland, San Jose, San Francisco, and Anaheim among others. They have a below average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Bank Of The West is typically a lendor.


Originations

15,452

Origination Dollar Volume (All Markets)

$4,869,800,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 15,140 $4,800,310,000 $317,061
FHA 186 $36,840,000 $198,065
VA 122 $32,060,000 $262,787
USDA 4 $590,000 $147,500

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 4,023 $1,732,795,000 $430,722
Home Improvement 2,492 $324,120,000 $130,064
Other 2,884 $480,670,000 $166,668
Refi 4,050 $1,419,660,000 $350,533
Cash Out Refi 2,003 $912,555,000 $455,594

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
LOS ANGELES-LONG BEACH-GLENDALE, CA 2,110 $897,180,000 $425,204
OAKLAND-BERKELEY-LIVERMORE, CA 1,393 $550,985,000 $395,538
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 887 $467,165,000 $526,680
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 585 $372,805,000 $637,274
ANAHEIM-SANTA ANA-IRVINE, CA 720 $338,460,000 $470,083
DENVER-AURORA-LAKEWOOD, CO 1,050 $270,420,000 $257,543
Outside of Metro Areas 1,508 $256,940,000 $170,385
SACRAMENTO-ROSEVILLE-FOLSOM, CA 458 $129,130,000 $281,943
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 393 $105,805,000 $269,224
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 350 $102,790,000 $293,686
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 222 $86,010,000 $387,432
SANTA ROSA-PETALUMA, CA 240 $83,420,000 $347,583
STOCKTON, CA 360 $76,190,000 $211,639
MODESTO, CA 347 $69,585,000 $200,533
LAS VEGAS-HENDERSON-PARADISE, NV 272 $67,500,000 $248,162
PHOENIX-MESA-CHANDLER, AZ 259 $62,465,000 $241,178
SANTA MARIA-SANTA BARBARA, CA 94 $51,050,000 $543,085
SANTA CRUZ-WATSONVILLE, CA 136 $50,000,000 $367,647
OMAHA-COUNCIL BLUFFS, NE-IA 417 $48,185,000 $115,552
SEATTLE-BELLEVUE-KENT, WA 92 $46,990,000 $510,761
ALBUQUERQUE, NM 288 $44,840,000 $155,694
SAN RAFAEL, CA 62 $40,280,000 $649,677
KANSAS CITY, MO-KS 259 $37,575,000 $145,077
BOULDER, CO 99 $36,025,000 $363,889
OXNARD-THOUSAND OAKS-VENTURA, CA 120 $35,330,000 $294,417
RENO, NV 91 $32,325,000 $355,220
NAPA, CA 82 $30,710,000 $374,512
TUCSON, AZ 124 $26,650,000 $214,919
DES MOINES-WEST DES MOINES, IA 208 $26,430,000 $127,067
VALLEJO, CA 124 $24,030,000 $193,790
FRESNO, CA 126 $23,620,000 $187,460
BOISE CITY, ID 142 $22,940,000 $161,549
GRAND JUNCTION, CO 69 $22,925,000 $332,246
SALINAS, CA 53 $20,975,000 $395,755
BAKERSFIELD, CA 83 $17,175,000 $206,928
SALT LAKE CITY, UT 60 $16,460,000 $274,333
FORT COLLINS, CO 64 $16,430,000 $256,719
WICHITA, KS 116 $15,010,000 $129,397
OKLAHOMA CITY, OK 68 $12,100,000 $177,941
VISALIA, CA 87 $11,695,000 $134,425
GREELEY, CO 64 $11,320,000 $176,875
SAN LUIS OBISPO-PASO ROBLES, CA 29 $10,265,000 $353,966
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 49 $10,105,000 $206,224
MERCED, CA 47 $9,155,000 $194,787
BEND, OR 23 $8,255,000 $358,913
CHICAGO-NAPERVILLE-EVANSTON, IL 21 $7,995,000 $380,714
TULSA, OK 10 $7,490,000 $749,000
LINCOLN, NE 72 $7,130,000 $99,028
HANFORD-CORCORAN, CA 44 $6,360,000 $144,545
MILWAUKEE-WAUKESHA, WI 17 $6,225,000 $366,176
CHICO, CA 43 $5,975,000 $138,953
TACOMA-LAKEWOOD, WA 28 $5,660,000 $202,143
CHEYENNE, WY 34 $5,410,000 $159,118
SPOKANE-SPOKANE VALLEY, WA 5 $5,355,000 $1,071,000
COLORADO SPRINGS, CO 18 $4,840,000 $268,889
KENNEWICK-RICHLAND, WA 24 $4,760,000 $198,333
AMES, IA 40 $4,710,000 $117,750
CEDAR RAPIDS, IA 50 $4,400,000 $88,000
OGDEN-CLEARFIELD, UT 24 $4,310,000 $179,583
LAS CRUCES, NM 40 $4,120,000 $103,000
FARGO, ND-MN 34 $3,890,000 $114,412
DALLAS-PLANO-IRVING, TX 22 $3,670,000 $166,818
CARSON CITY, NV 25 $3,635,000 $145,400
PROVO-OREM, UT 13 $3,555,000 $273,462
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 15 $3,285,000 $219,000
YAKIMA, WA 10 $3,250,000 $325,000
FLAGSTAFF, AZ 17 $3,095,000 $182,059
BREMERTON-SILVERDALE-PORT ORCHARD, WA 7 $3,035,000 $433,571
YUBA CITY, CA 17 $2,895,000 $170,294
CLARKSVILLE, TN-KY 27 $2,845,000 $105,370
EL PASO, TX 21 $2,335,000 $111,190
SANTA FE, NM 9 $2,315,000 $257,222
LAKE HAVASU CITY-KINGMAN, AZ 12 $2,150,000 $179,167
ENID, OK 28 $2,140,000 $76,429
CASPER, WY 13 $1,885,000 $145,000
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 12 $1,870,000 $155,833
SALEM, OR 13 $1,825,000 $140,385
OLYMPIA-LACEY-TUMWATER, WA 6 $1,770,000 $295,000
ANCHORAGE, AK 14 $1,650,000 $117,857
KILLEEN-TEMPLE, TX 2 $1,500,000 $750,000
ST. CLOUD, MN 12 $1,480,000 $123,333
EUGENE-SPRINGFIELD, OR 7 $1,455,000 $207,857
MADERA, CA 8 $1,440,000 $180,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 10 $1,410,000 $141,000
SIOUX CITY, IA-NE-SD 7 $1,355,000 $193,571
GRAND ISLAND, NE 14 $1,330,000 $95,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX 7 $1,325,000 $189,286
PRESCOTT VALLEY-PRESCOTT, AZ 15 $1,245,000 $83,000
MEDFORD, OR 5 $1,205,000 $241,000
ST. GEORGE, UT 4 $1,160,000 $290,000
TWIN FALLS, ID 8 $1,140,000 $142,500
BELLINGHAM, WA 6 $1,120,000 $186,667
SAN ANTONIO-NEW BRAUNFELS, TX 7 $1,085,000 $155,000
COEUR D'ALENE, ID 5 $1,045,000 $209,000
LA CROSSE-ONALASKA, WI-MN 11 $1,015,000 $92,273
WATERLOO-CEDAR FALLS, IA 2 $920,000 $460,000
IOWA CITY, IA 8 $910,000 $113,750
INDIANAPOLIS-CARMEL-ANDERSON, IN 1 $905,000 $905,000
MEMPHIS, TN-MS-AR 2 $770,000 $385,000
REDDING, CA 4 $710,000 $177,500
FORT SMITH, AR-OK 1 $705,000 $705,000
KALAMAZOO-PORTAGE, MI 1 $695,000 $695,000
SAVANNAH, GA 5 $635,000 $127,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 4 $620,000 $155,000
COLLEGE STATION-BRYAN, TX 1 $615,000 $615,000
JACKSONVILLE, FL 4 $600,000 $150,000
HILTON HEAD ISLAND-BLUFFTON, SC 5 $555,000 $111,000
ALBANY-LEBANON, OR 4 $540,000 $135,000
SIOUX FALLS, SD 4 $540,000 $135,000
MOUNT VERNON-ANACORTES, WA 2 $500,000 $250,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 4 $480,000 $120,000
MCALLEN-EDINBURG-MISSION, TX 2 $460,000 $230,000
ROCHESTER, MN 10 $450,000 $45,000
PUEBLO, CO 5 $445,000 $89,000
IDAHO FALLS, ID 4 $440,000 $110,000
WARNER ROBINS, GA 1 $415,000 $415,000
DULUTH, MN-WI 4 $340,000 $85,000
ORLANDO-KISSIMMEE-SANFORD, FL 2 $340,000 $170,000
POCATELLO, ID 3 $335,000 $111,667
LAWRENCE, KS 3 $325,000 $108,333
CORVALLIS, OR 1 $325,000 $325,000
WENATCHEE, WA 1 $325,000 $325,000
MIAMI-MIAMI BEACH-KENDALL, FL 1 $285,000 $285,000
BISMARCK, ND 2 $280,000 $140,000
GRANTS PASS, OR 2 $270,000 $135,000
CINCINNATI, OH-KY-IN 1 $265,000 $265,000
CLEVELAND-ELYRIA, OH 1 $265,000 $265,000
PITTSBURGH, PA 1 $265,000 $265,000
LEWISTON, ID-WA 1 $255,000 $255,000
ST. LOUIS, MO-IL 1 $165,000 $165,000
LONGVIEW, WA 1 $165,000 $165,000
CHARLESTON-NORTH CHARLESTON, SC 1 $155,000 $155,000
RAPID CITY, SD 1 $135,000 $135,000
LAKELAND-WINTER HAVEN, FL 1 $115,000 $115,000
ST. JOSEPH, MO-KS 1 $105,000 $105,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 1 $95,000 $95,000
DUBUQUE, IA 1 $85,000 $85,000
WALLA WALLA, WA 1 $65,000 $65,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 2 $60,000 $30,000
YUMA, AZ 1 $25,000 $25,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 1 $505,000 $505,000
2.5-3% 110 $108,590,000 $987,182
3-4% 3,535 $2,034,995,000 $575,670
4-5% 5,242 $1,694,550,000 $323,264
5-6% 3,980 $792,900,000 $199,221
6-7% 2,158 $210,230,000 $97,419
7-8% 418 $27,790,000 $66,483
Over 8% 8 $240,000 $30,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 3,948 $214,280,000 $54,276
$100k-200k 3,960 $579,120,000 $146,242
$200k-400k 3,733 $1,019,895,000 $273,211
$400k-600k 1,645 $804,715,000 $489,188
$600k-1000k 1,393 $1,058,165,000 $759,630
$Over $1MM 773 $1,193,625,000 $1,544,146

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 3,292 $786,720,000 $238,979
40-60% 2,086 $879,690,000 $421,711
60-80% 3,716 $1,913,230,000 $514,863
80-100% 2,158 $838,840,000 $388,712
Over 100% 13 $4,855,000 $373,462
Under 20% 4,139 $434,065,000 $104,872

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 2,976 $710,500,000 $238,743
$150k-250k 3,289 $1,224,135,000 $372,191
$50k-75k 1,865 $283,595,000 $152,062
$50k-or less 1,280 $123,290,000 $96,320
$75k-100k 1,748 $325,510,000 $186,219
$Over $250k 2,589 $1,620,165,000 $625,788

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 10,102 $2,891,660,000 $286,246
Asian 2,006 $882,260,000 $439,811
Not provided 1,667 $530,825,000 $318,431
Not applicable 1,198 $434,120,000 $362,371
Black 215 $53,685,000 $249,698
American Indian 126 $26,240,000 $208,254
Asian Indian 37 $19,815,000 $535,541
Native Hawaiian 43 $11,245,000 $261,512
Other Asian 10 $5,280,000 $528,000
Chinese 14 $4,690,000 $335,000
Filipino 13 $3,815,000 $293,462
Other Pacific Islander 4 $1,510,000 $377,500
Japanese 4 $1,450,000 $362,500
Korean 4 $1,220,000 $305,000
Vietnamese 6 $1,190,000 $198,333
Native Hawiian 2 $610,000 $305,000
1 $185,000 $185,000

Approval Rates

Total approvals of all applications
69.91%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
75.69%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 15,452 $4,869,800,000 $315,157

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 2,849 $1,610,845,000 $565,407
$1k-2k 1,334 $347,820,000 $260,735
$2k-3k 718 $303,890,000 $423,245
$3k-4k 607 $328,055,000 $540,453
$5k+ 563 $462,285,000 $821,110

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Manufactured 3 $9,265,000 $3,088,333
Multifamily:Site-Built 193 $207,365,000 $1,074,430
Single Family (1-4 Units):Manufactured 182 $19,960,000 $109,670
Single Family (1-4 Units):Site-Built 15,074 $4,633,210,000 $307,364